Republican mantra

[Guest guest]

From: hyperaldosteronism On Behalf Of Clarence Grim

The poor oversight is characteristic of the Republican matra.

Umm, not quite.

I apologize in advance for when distorts my links.

The New York Times wrote this five years ago:

" The Bush administration today recommended the most significant regulatory

overhaul in the housing finance industry since the savings and loan crisis a

decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would

be created within the Treasury Department to assume supervision of Fannie Mae

and Freddie Mac, the government-sponsored companies that are the two largest

players in the mortgage lending industry. "

" These two entities — Fannie Mae and Freddie Mac — are not facing any kind

of financial crisis,†said Representative Barney of Massachusetts, the

ranking Democrat on the Financial Services Committee. â€The more people

exaggerate these problems, the more pressure there is on these companies, the

less we will see in terms of affordable housing.â€

http://hotair.com/archives/2008/09/16/whose-policies-led-to-the-credit-crisis/

On May 25, 2006, McCain said to the US Senate:

" … I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform

Act of 2005, S. 190, to underscore my support for quick passage of GSE

regulatory reform legislation. If Congress does not act, American taxpayers will

continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose

to the housing market, the overall financial system, and the economy as a whole.

I urge my colleagues to support swift action on this GSE reform legislation. "

http://hotair.com/archives/2008/09/17/mccains-attempt-to-fix-fannie-mae-freddie-\

mac-in-2005/

McCain's bill died in the Senate Banking Committee in a party-line vote.

While both sides pretty much sicken me, I believe that accuracy is important.

Val